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The keynesian multiplier in recession: why fiscal stimulus is now even more necessary in the eurozone?

Author

Listed:
  • Sébastien Charles

    (Laboratoire d’Economie Dionysien)

  • Thomas Dallery

    (Centre Lillois d'Etudes et de Recherches Sociologiques et Economiques (CLERSE))

  • Jonathan Marie

    (Centre d'Economie de l'Université de Paris Nord (CEPN))

Abstract

The Great Recession has revived economic policy debates from the 1930s between the advocates of a balanced budget under all circumstances and the supporters of counter-cyclical fiscal policies. Since 2012, a consensus has emerged that fiscal policy is more effective in recessions that during periods of growth. Now, new studies have explained why fiscal multipliers are usually higher in times of recession. These results confirm the pressing need for fiscal stimulus in Europe.

Suggested Citation

  • Sébastien Charles & Thomas Dallery & Jonathan Marie, 2015. "The keynesian multiplier in recession: why fiscal stimulus is now even more necessary in the eurozone?," CEPN Policy Brief, Centre d'Economie de l'Université de Paris Nord, vol. 7, pages 1-4.
    • Handle: RePEc:upn:policy:2015-07:en
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    More about this item

    Keywords

    Keynesian multiplier; recession; Fiscal policy;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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